Is Teaneck, NJ a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Teaneck is a buyer's market

Buyer's
Market

Difference Since Last Month

Since last month, Teaneck has remained a Buyer's Market.

Key Takeaway

Teaneck is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Teaneck, NJ

How much do homes in Teaneck, NJ cost?

Median Sold Price

$550,000

-

Based on all homes sold in November 2024.

Difference Since Last Month

-$45,000(-7.6%)

Key Takeaway

Homes in Teaneck have sold for 7.6% less than they did a month ago.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 -$550K
N/A
3 $640K$540.5K
-15.5%
4 $575K$800K
+39.1%
5+ $565K-
N/A

Summary: Teaneck housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 15.5%, 4 bedroom homes increased by 39.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Hackensack
+47.3%
Teaneck
-7.6%
Teaneck Township
-7.6%

Housing Supply in Teaneck, NJ

How many homes are available in Teaneck, NJ?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4656+21.7%

Summary: The Teaneck real estate market had 56 homes for sale in November 2024, a 21.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 44
0.0%
2 37
+133.3%
3 2427
+12.5%
4 56
+20.0%
5+ 1012
+20.0%

Summary: The Teaneck housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 133.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
65-16.7%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Teaneck, you could pay more than the asking price. 60% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in Teaneck in November 2024, down by 16.7% month-over-month. Of the 5 sold homes, 40% were sold under asking, 0% were sold at asking, and 60% were sold over asking.

Days on Market for Teaneck, NJ

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

Newest Listings in Teaneck, NJ

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